DEMAND FOR FOSSIL FUELS DRIVES ENERGY CRISIS

Press/Media: Expert Comment

Description

Across the world, demand for energy is on the rise. Oil prices are booming as economic output returns to pre-pandemic levels, coal prices are hitting record highs and a gas shortage in Europe is placing serious pressure on supply.

This is amounting in a ferocious appetite for fossil fuels creating windfalls for the Australian minerals sector. Newcastle coal prices, are a clear example of surging demand, up 250% and reaching their 2008 peak.

So what’s behind these changes? And what impact is this likely to have on the Australian energy market?

Period18 Oct 2021

Media contributions

1

Media contributions

  • TitleDEMAND FOR FOSSIL FUELS DRIVES ENERGY CRISIS
    Degree of recognitionNational
    Media name/outletThe Wire
    Media typeWeb
    Duration/Length/Size5.04
    Country/TerritoryAustralia
    Date18/10/21
    DescriptionAcross the world, demand for energy is on the rise. Oil prices are booming as economic output returns to pre-pandemic levels, coal prices are hitting record highs and a gas shortage in Europe is placing serious pressure on supply.

    This is amounting in a ferocious appetite for fossil fuels creating windfalls for the Australian minerals sector. Newcastle coal prices, are a clear example of surging demand, up 250% and reaching their 2008 peak.

    So what’s behind these changes? And what impact is this likely to have on the Australian energy market?
    Producer/AuthorEvan Wallace
    URLhttps://www.thewire.org.au/story/demand-for-fossil-fuels-drives-energy-crisis/
    PersonsLurion De Mello
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